AMERICAN POWER CONVERSION CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE MONTHS ENDED
FOR THE THREE MONTHS ENDED
MARCH 31, 1995 MARCH 31, 1994
NET SALES $109,203,576 $74,620,259
COST OF GOODS SOLD 56,612,773 36,353,141
GROSS PROFIT 52,590,803 38,267,118
RESEARCH AND DEVELOPMENT 2,749,179 2,147,840
MARKETING, SELLING, GENERAL
AND ADMINISTRATIVE 23,023,425 15,362,929
TOTAL OPERATING EXPENSES 25,772,604 17,510,769
OPERATING INCOME 26,818,199 20,756,349
INTEREST INCOME 635,887 437,607
OTHER INCOME 18,727 0
EARNINGS BEFORE TAXES 27,472,813 21,193,956
INCOME TAXES 9,203,000 7,630,000
NET EARNINGS $18,269,813 $13,563,956
EARNINGS PER SHARE $.20 $.15
WEIGHTED AVERAGE SHARES OUTSTANDING 93,336,733 93,243,567